The COVID-19 pandemic has accelerated the digital transformation worldwide, especially in the eCommerce sector. Increasingly people are shifting towards online shopping, and the trend seems to have lasting effects as we transition towards the pre-pandemic lifestyle.
According to a recent survey conducted in developing and emerging countries, more than half of the respondents rely on the internet for news, information, and entertainment and shop online frequently. Consumers in emerging economies have shown the most significant change in shopping behavior.
Due to the growing interest, countries like Pakistan have opened avenues for the local market in the eCommerce sectors to seize the opportunities the sector offer. The fashion and accessories industry has been the biggest gainer, closely followed by IT and electronics, as the Webx reports show. We see the average cart size for the amount of 1500-5000 PKR grew by 20% in Q1 and Q2, 2022.
Growing trust in online sellers is one of the leading causes of the shifting behaviors, but a few more factors have also played a vital role, including:
Online shopping offers a much more diverse product variety than physical stores. Consumers cannot only access local goods but also look for international brands. Moreover, you can check other websites if an item is out of stock at one of the e-stores.
Most eCommerce stores offer exclusive discounts and regular sales to their loyal customers. You can also apply for subscriptions and memberships to earn points and rewards. Besides, online retailers and discount shops offer coupons and codes that you can use to get the best prices.
Parking is a big nuisance, especially in metropolitan cities. Thanks to online stores, now you can avoid the long queues at the departmental stores and the hassle of parking cars. Most eCommerce stores offer free delivery so that you can receive the package right at your doorstep.
Unlike brick-and-mortar shops, web stores are open and functional 24/7. It means now you can place an order anytime you want. With our busy lifestyle today, this facility adds to our convenience and comfort of shopping online.
The weakening economy and high inflation rate have increased the price of every commodity. That is why consumers tend to spend more money on online shopping while buying the same amount of goods and products they shopped for the previous year. Recent reports show that the annual inflation rate in Pakistan reached 21.3% in June 2022, compared to 13.8% in the last year.
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